DCC Markup charges by Axis Flipkart Credit Card

Charged on myntra as i took a transaction on the same.

Relax guys. I think this is an erroneous implementation by these joker banks.

If you make a purchase on any site where amount was showing in any currency other than INR, then you'll be charged forex markup fee. DCC has no role here.

But if you make a purchase on any merchant which is located outside India and they did the currency conversion themselves and showed you amount payable in INR, here DCC will be charged.

I don't think banks can charged DCC singlehandedly on their wish. The transaction information has to contain some information or parameters which indicate the txn was originally in foreign currency. Now if the bank approved txn in that foreign currency then markup fee will be levied and if bank approved txn in INR, then dcc will be applied.

But here, it looks like banks are playing single handedly, on their own whim. Flipkart maybe incorporated in Singapore or anywhere, it doesn't matter as long as they're also registered in India, and they are. Sellers on flipkart are NOT listing their products in SGD or any currency other than INR which flipkart is converting, hence there is no scene of DCC here. Zomato is also registered in India, heck it is even a listed company lol. Some people got charged even for local POC txns on more supermarket and all, which clearly show it is a mistake. I also don't think these companies are using any payment gateways that are converting currencies.

So don't worry, these will be reversed. But make sure you do complain via email and tweet. Only when many complaints are raised, banks will be forced to act quickly.

Chutzpah

Call customer care, they will reverse the dcc

markup charges reversed today, levied on 7th

Is apay icici card and sbi card also having these issues?

I recently bought AC costing 35000 from flipkart using Axis bank flipkart card.. Is this also incur this DCC charge.. Where I can see this ??

I got refund from axis I got debited around 5 rs and gst now it's refunded

I got a refund for this dcc markup too

Going to purchase mobile worth 70k using FK Axis.....how much charges will be applicable?

My  axis-flipkart cc outstanding bill was 57000

I have paid in 10k*5 = 50k

The remaining 5.7k also paid,, but IDK today I got msg saying that 5.7k bill payment is failed u ll get ur money back within 5-7 days..

My due date is over...

I don't know what will happen???

Has anyone faced the same issue previous???

What will they do???

Can anyone please reply....

cheq payments are getting failed now a days

Axis Bank has started reversing the DCC mark up and GST wrongly collected. You will see this in your monthly statement 😃

Meanwhile me, with my Axis FK card tucked in locker, reading this full thread-

If the company is registered in another country and doing business in India DCC Markup charges are charging

write mail to cc for reversal